Mackenzie Financial Corp Buys Shares of 3,574 Paylocity Holding Co. (NASDAQ:PCTY)

Mackenzie Financial Corp bought a new position in Paylocity Holding Co. (NASDAQ:PCTY - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,574 shares of the software maker's stock, valued at approximately $713,000.

Several other large investors have also made changes to their positions in PCTY. Barclays PLC grew its holdings in shares of Paylocity by 14.3% in the 3rd quarter. Barclays PLC now owns 44,897 shares of the software maker's stock worth $7,407,000 after purchasing an additional 5,609 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Paylocity by 27.7% in the 4th quarter. Blue Trust Inc. now owns 839 shares of the software maker's stock valued at $167,000 after purchasing an additional 182 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Paylocity by 3.0% in the 4th quarter. Pacer Advisors Inc. now owns 6,484 shares of the software maker's stock valued at $1,293,000 after purchasing an additional 189 shares during the last quarter. Chicago Capital LLC boosted its stake in shares of Paylocity by 5.5% in the 4th quarter. Chicago Capital LLC now owns 7,555 shares of the software maker's stock valued at $1,507,000 after purchasing an additional 394 shares during the last quarter. Finally, abrdn plc boosted its stake in shares of Paylocity by 51.5% in the 4th quarter. abrdn plc now owns 6,730 shares of the software maker's stock valued at $1,342,000 after purchasing an additional 2,288 shares during the last quarter. Institutional investors own 94.76% of the company's stock.

Insider Transactions at Paylocity

In other news, Director Steven I. Sarowitz sold 26,252 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.91, for a total transaction of $5,116,777.32. Following the completion of the sale, the director now owns 420,000 shares in the company, valued at approximately $81,862,200. This trade represents a 5.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 21.91% of the stock is currently owned by corporate insiders.

Paylocity Stock Down 0.5%

PCTY stock traded down $0.94 during mid-day trading on Thursday, hitting $193.72. 414,869 shares of the company were exchanged, compared to its average volume of 452,870. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.14 and a current ratio of 1.14. Paylocity Holding Co. has a 1-year low of $129.94 and a 1-year high of $223.80. The firm has a market cap of $10.70 billion, a P/E ratio of 49.67, a P/E/G ratio of 4.49 and a beta of 0.58. The firm's 50 day simple moving average is $189.61 and its 200 day simple moving average is $197.01.

Paylocity (NASDAQ:PCTY - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The software maker reported $2.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.09 by $0.34. Paylocity had a net margin of 14.76% and a return on equity of 22.45%. The company had revenue of $454.55 million for the quarter, compared to the consensus estimate of $441.77 million. During the same period last year, the company earned $2.21 earnings per share. The firm's revenue was up 13.3% compared to the same quarter last year. On average, sell-side analysts predict that Paylocity Holding Co. will post 4.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. UBS Group raised their target price on shares of Paylocity from $195.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Piper Sandler reaffirmed an "overweight" rating and issued a $258.00 target price (up previously from $254.00) on shares of Paylocity in a research note on Friday, May 2nd. JMP Securities reissued a "market outperform" rating and set a $270.00 price objective on shares of Paylocity in a research note on Tuesday, April 29th. Raymond James reissued an "outperform" rating and set a $235.00 price objective (down previously from $265.00) on shares of Paylocity in a research note on Friday, May 2nd. Finally, Stifel Nicolaus reduced their price objective on shares of Paylocity from $250.00 to $235.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $223.00.

Paylocity Company Profile

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.